SEBI/HO/DDHS/CIR/P/2020/098                                                                                                                                 June 08, 2020

To, 

All listed issuers

All Recognized Stock Exchanges

All Debenture Trustees

All Registered Merchant Bankers

Madam / Sir, 

Sub: Relaxation from compliance with certain provisions of the SEBI (Issue and

Listing of Debt Securities) Regulations, 2008, SEBI (Non-Convertible Redeemable

Preference Shares) Regulations, 2013 and other SEBI Circulars due to the COVID –

19 virus pandemic

1. SEBI vide circular no. SEBI/HO/DDHS/ON/P/2020/41 dated March 23, 2020 specified guidelines for relaxation from compliance with certain provisions of the SEBI LODR  Regulations and other SEBI Circulars due to the COVID -19 virus pandemic.

• In partial amendment to the aforesaid circular, it has been decided to extend the relaxation provided in the circular for issuers who intend/propose to list their Non- Convertible  Debentures  (NCDs)  /Non-Convertible  Redeemable  Preference  Share (NCRPS) /Commercial Papers (CPs) for disclosure of financial results for another one month.

• Accordingly, Clause 5 of the circular stands modified as under:  “In order to enable listed issuers who intend/propose to list their NCD/NCRPS/CPs, it has been decided to grant the following relaxations in timelines:

Particulars	Available Financials	Date for issuance	Extended date for issuance	Period of relaxation
Cut-off date for issuance of NCDs/NCRPS /CPs	As on September 30, 2019	On or before March 31, 2020	On or before June 30, 2020	91 days

• This circular shall come into force with immediate effect. The Stock Exchanges are advised to bring the provisions of this circular to the notice of all listed entities and also disseminate on their websites.
• The circular is issued in exercise of the powers conferred under Section 11(1) of the  Securities and Exchange Board of India Act, 1992 read with Regulations 31 and 32 of the  SEBI  (ILDS)  Regulations,  2008,  Regulations  26  and  27  of  SEBI  (NCRPS) Regulations, 2013, the relaxations contained herein are subject to the provisions of the Companies Act, 2013 and rules made thereunder.
• The circular is available on SEBI website at  www.sebi.gov.in  under the category – ‘Legal -Circulars’

Yours faithfully,

Richa G. Agarwal

Deputy General Manager 

Department of Debt and Hybrid Securities

Email id: richag@sebi.gov.in

Phone: +91-22-26449596